The general economic index, as reported by the Federal Reserve Bank, jumped 6.8 points, showing a healthy emergence from a recession.
From Courtney Schlisserman, Bloomberg:
Sept. 15 (Bloomberg) -- Manufacturing in the New York region grew in September at the fastest pace in almost two years, a sign factories are helping pull the economy out of a recession.
The Federal Reserve Bank of New York’s general economic index increased to 18.9 from 12.1 in August, the bank said today. Last month’s report was the first time since April 2008 that the reading was above zero, the dividing line between expansion and contraction for the Empire State index.
